The max supply is a hard cap that a lot of investors like to see. We could reduce this in the future but we can’t increase it because inflating the total supply would hurt all stake holders. This is why we’ve gone very conservative to give us maximum options for the future. My day 1 valuation of the project is not a hundred million but I don’t want to do anything in the short-term to stop us having a chance of reaching these crazy valuations in the long-term. So Pre-ICO we have set a hard cap of five million which includes crowdsale tokens and mining rewards. Bare in mind that the current distribution is 650k so we would have to generate a huge amount of investor demand to get anywhere near that figure. ICO we’ve set a cap at 75 million which will be sold on an increasing price ladder to protect early stage investors. So if demand at ICO isn’t there no more JSE will be sold.

With regard to website advertising we are keeping the distribution of mining rewards fairly low a the moment to protect the coin cap. We could potentially increase this in the future and obviously we hope that when JSE lists on the exchanges the price will inflate inline with demand which will correspond directly to the number of publishers and amount of website traffic.

let me recap:
so there are 5.000.000 coins for pre-ico + mining till ico
then there are 75.000.000 coins for the ico
then there are 20.000.000 coins available for miners

That sounds kind of scary to me! (and is somehow not properly visible in your investor guides)

If you would announce your coin as 80% premine many would argue there is a big chance of you just trying to get rich quickly with it.

Also the chances of the price per coin to rise is very low.
For the price to rise the supply would need to be more limited,
there would need to be a logic to be built in that lowers the inflation over time, like block halfing…

Also does your project really requires 80.000.000$ in funding?

what are you going to do with the investments and how are you going to grow in value?

And since you are going to do a ICO, are you going to see the coins as securities?

I have to admit I was kind of blindfolded when I bought my first jse,

The idea on a javascript based pow is genius.

Decentralization is key for maintaining strong fintech, but your coin runs only on your own pool, and you can decide on your own what to do with it.

So any decentralization you currently could reach is eliminated through your type of implementation.

The business model of your ICO unfortunately is too shady as if I could blindly trust it.

From your open answers I read you didn’t meant it to be shady at all, but I would strongly recommend to be more clear on how this is going to work or other investors and those who do mining will feel being locked in a ico bubble

in your white paper you state: “We reserve the right to buy back JSE tokens on exchange using ICO and private funds.”

That is an issue. Usually ICOs should lock the funds they receive for the time the ICO runs.

Otherwise it would be easy for those running the ico to reinvest the funds they receive in the same ICO again and again.

Meaning your receive 1 eth for 300 token you hand out to the buyer and then you take the same eth and send it to the same address again to receive 300 tokens for yourself. this way the same coin can generate an infinite (well at least till all gas is used) number of tokens.

You should be very clear either by your code or by your white paper you are preventing this from happening.

I hope the source code you plan on releasing contains mechanisms to prevent this.

Good questions thanks for taking the time to put this together. The price ladder in the whitepaper is example pricing to demonstrate what we want to accomplish. I think it says in there that the actual price bands at ICO will be closer grouped towards market expectations at the time. So if advisors suggest we can only reach a maximum of $x at ICO we will group the price bands around that figure to adjust it to match demand.

We have had a few people mention that the maximum hard cap is too high and we agree generally. The issue is that we aren’t going to ICO until 2018 and we want to keep the maximum number of options available to us. Noone is going to complain if we drop the hard cap but if we tried to increase it stakeholders wouldn’t be happy. Regarding remaining funds post-ICO they will be deposited to the distribution account. This isn’t for us personally but will be used by the company to pay for mining/marketing/referrals etc. If the ICO doesn’t sell out it may be necessary to burn some of these coins but again these details wont be finalized until we have a good idea for what demand will be like at ICO.

The right to buy back funds on exchange is in there because it’s been pointed out to us that the price will be most volatile after ICO when the coin gets listed on exchanges and users can dump coins for the first time. We want to integrate merchant tools and stability will be key to making this work. One option that was presented was placing large buy orders on the exchange to create a floor for the price, this is post-ICO however. It’s not our intention to rehash the same funds to artificially inflate the ICO, apart from making it look like it was selling out I couldn’t see any reason for doing that.

I think we obviously haven’t explained our intentions well enough in the whitepaper. I’ll take a look at it again tomorrow and see if I can explain better what we are trying to do and the reasons behind it.